Form 8938: M

If you are married and you and your spouse file a joint income tax return, report any specified foreign financial asset that you jointly own only once and include the maximum value of the entire asset (and not just the maximum value of your interest in the asset). Also, you must report any specified foreign financial asset that you or your spouse separately owns and include the maximum value of the entire asset. If you and your spouse file a joint income tax return that includes Form 8814, you must report any specified foreign financial asset your child owns only once and include the maximum value of the entire asset.

If you are married and you and your spouse are specified individuals who file separate income tax returns, both you and your spouse report any specified foreign financial asset that you jointly own on your separate Forms 8938, and both you and your spouse must include the maximum value of the entire asset on your separate Forms 8938. You must also report any specified foreign financial asset that you own individually on your separate Form 8938 and include the maximum value of the entire asset. If you file Form 8814, you must report any specified foreign financial asset your child owns and include the maximum value of the entire asset.

If you are a joint owner of a specified foreign financial asset and you cannot use one of the special rules for married individuals who file a joint tax return, you must report the specified foreign financial asset and include the maximum value of the entire asset.

(b)  Form 8938 (Rev. 11-2021) Page 2
Part V Detailed Information for Each Foreign Deposit and Custodial Account Included in the Part I Summary
(see instructions)
If you have more than one account to report in Part V, attach a separate statement for each additional account. See instructions.
20 Type of account a Deposit
b Custodial
21 Account number or other designation
22 Check all that apply a Account opened during tax year b Account closed during tax year
c Account jointly owned with spouse d No tax item reported in Part III with respect to this asset
23 Maximum value of account during tax year . . . . . . . . . . . . . . . . . . . . . $
24 Did you use a foreign currency exchange rate to convert the value of the account into U.S. dollars? . . Yes No
25 If you answered “Yes” to line 24, complete all that apply.
(a) Foreign currency in which
account is maintained
(b) Foreign currency exchange rate
used to convert to U.S. dollars
(c) Source of exchange rate used if not from U.S.
Treasury Department’s Bureau of the Fiscal Service
26 a Name of financial institution in which account is maintained b Global Intermediary Identification Number (GIIN) (Optional)
. . .
27 Mailing address of financial institution in which account is maintained. Number, street, and room or suite no.
28 City or town, state or province, country, and ZIP or foreign postal code

(c)    Instructions for Form 8938 (Rev. November 2021) (irs.gov)

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